The Maendeleo Ya Wanawake Chairperson for Marakwet West Veronica Suter has called on women to join groups and apply for the Women Enterprise Funds, emphasizing the importance of utilizing these government-provided financial opportunities.
Ms. Suter lamented that the uptake of these funds in both Marakwet East and West sub-counties has been disappointingly low.
‘Women in our community should take advantage of the soft repayment terms offered by the government,’ she stated.
‘The interest rates are low and affordable, making it a favourable option compared to the stringent conditions set by traditional financial institutions,’ she noted.
Addressing the issue at her office in Kapsowar, Ms. Suter urged groups that had applied for the funds but were advised to make slight corrections to do so promptly.
‘Do not get discouraged by minor setbacks. Make the necessary corrections and resubmit your applications in time for consideration,’ she encouraged.
Ms. Suter also observed that misunderstandings often arose in
families where women have defaulted on loans from certain institutions, leading to the confiscation of family properties.
‘Women must think carefully before securing loans. Ensure you have a clear repayment plan to avoid such conflicts,’ she advised.
She further explained that women could initially borrow up to Sh50,000 and, with a good repayment history, qualify for larger amounts after completion of the first loan, she said while urging them to only consider taking up loans from government-approved financial institutions.
‘This is an excellent opportunity for women to start or expand their businesses, improve their livelihoods, and contribute to the economic growth of our community,’ she added.
Ms. Suter reiterated her call for women to seek these funds proactively. ‘The Women Enterprise Fund is designed to empower women economically. Let’s take full advantage of it and positively change our lives and community,’ she said.
Source: Kenya News Agency